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The U.S. average retail price of diesel rose 0.9 cent to $2.481, while oil prices failed to reclaim ground after a sharp drop a week earlier.

Oil prices declined for the week of July 3, as expanded U.S. drilling activity and added production offset a larger-than-expected drop in stockpiles.

The U.S. average retail price of diesel rose 0.7 cent to $2.472 as U.S. oil drilling declined and crude prices rebounded to clear $47 a barrel before retreating to about $45, experts said.

TT Managing Editor Lorrie Grant chats with government reporters Eugene Mulero and Eric Miller to recap the year so far in congressional and regulatory news that impact trucking, and looks ahead at the final six months. (Joseph Terry/Transport Topics)

Oil extended the longest run of gains in six months after U.S. shale explorers paused a record drilling expansion in a sign the boom may be slowing down.

The number of Americans traveling by car for the Fourth of July holiday will hit a record high this year, fueled by a growing economy and relatively low gasoline prices, the nation’s largest motorists’ advocacy group said June 29.

A new design in engine pistons is increasing fuel efficiency and reducing particulate matter in Volvo Trucks North America’s heavy-duty D11 and D13 engines.

The U.S. average retail price of diesel set a new low for the year, falling 2.4 cents to $2.465 a gallon, the Department of Energy reported.